Hardship threshold

When you can claim hardship

If you are finding it hard to meet your loan repayments (for
example, because of illness, unemployment or changed financial
circumstances), you can apply to your lender for a 'hardship
variation' which changes the terms of your loan. See how to apply for a
hardship variation.

If you entered into a credit contract before March 2013, your
credit provider must consider your hardship application if the
amount that you borrowed is less than the threshold (maximum amount
allowed) that applied on the date you signed your credit contract.
These thresholds are listed below.

Check the date you signed your credit contract to see if the
threshold is less than the amount you borrowed. Even if your loan
is above the threshold your credit provider might still agree to
vary the contract.

If your credit provider refuses your hardship application, they
must give reasons. If you are not happy with their response, you
can ask to speak to their internal complaints section.